INTERNATIONAL FINANCIAL SERVICES CENTRE (IFSC) – GIFT CITY

Current Context: Finance Minister Nirmala Sitharaman reviewed progress at GIFT City’s IFSC, urging swift reforms to enhance global competitiveness and attract foreign capital via regulated channels.

 ABOUT GIFT City – IFSC

• A Special Economic Zone launched in April 2015 in Gandhinagar–Ahmedabad, Gujarat; India’s first operational greenfield smart city and international financial services centre.
• Governed by the International Financial Services Centres Authority (IFSCA), established under the IFSC Act, 2019; a unified regulator for financial institutions and products.
• Focus Areas: Banking, capital markets, insurance, asset/fund management, fintech, international bullion exchange, aircraft & ship leasing.
• Tax Incentives: 100% tax exemptions for up to 10 years, relaxed regulations for fund transfers, and SEZ-specific duty breaks.
• Achievements: Over 700 firms (including PSUs, banks, multinationals) onboarded; ranked 46th in Global Financial Centres Index, 40th in fintech, top in reputational advantage (GFCI‑37, 2025).